Oct 30, 2017
LXRandCo to surpass US 2017 store target
Oct 30, 2017
LXRandCo’s plans to double its store count to 122 locations by the end of the year was an ambitious one, but now the omnichannel retailer, known for carrying branded vintage luxury handbags and accessories, is expecting to surpass it.
The Montreal-based company announced on Friday that it has secured its tenth retail partnership with a leading US department store with more than 200 stores in more than 20 states. Under this agreement, LXRandCo will initially open 10 "shop-in-shop" locations in November 2017, bringing the retailer’s pro forma store count to 125.
"This agreement not only marks our tenth retail partner but, more importantly, increases our projected store count at the end of November to 125, surpassing our stated target of 122 stores by the end of 2017," said Fred Mannella, Chief Executive Officer, LXRandCo, Inc, in a news statement.
"To date in 2017, we have added five new partners and, by the end of November, will have nearly tripled our store count, all of which positions our Company for continued, strong sequential revenue growth as these stores ramp up sales."
Last month, the retailer also announced that it was expanding its vintage luxury product offering into apparel and shoes for both women and men.
LXRandCo has stores in Canada, the US, Germany, Belgium and the UK.
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